Item Coversheet

9.A.1.


Shakopee City Council
September 7, 2021

FROM:Michael Kerski, Planning/Development Director
TO:Mayor and Council Members
Subject:
Resolution Approving the First Amendment to the Contract for Private Development for Canterbury and TIF Note
Policy/Action Requested:
Resolution No. R2021-130, approving a First Amendment to the Contract for Private Development with the Economic Development Authority with Canterbury Development LLC and Canterbury Park Holding Corporation.
Recommendation:
Approve Resolution
Discussion:

This is the City of Shakopee's concurrence with the Shakopee Economic Development Authority's action to approve modifications to the Contract for Private Development with Canterbury.

 

The modifications that the EDA has approved reflect actual costs of public infrastructure and ROW along with the acquisition and demolition of the Scott County Workforce Center.  The agreement also reflects moving the city's costs for CH83 from the CIF to the TIF.  

Budget Impact:
ATTACHMENTS:
Description
Resolution
Contract for Private Development